Cubist Systematic Strategies LLC Purchases Shares of 88,388 W. P. Carey Inc. (NYSE:WPC)

Cubist Systematic Strategies LLC purchased a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 88,388 shares of the real estate investment trust’s stock, valued at approximately $4,866,000.

Several other large investors have also added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in W. P. Carey by 60.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 41,879 shares of the real estate investment trust’s stock valued at $2,305,000 after purchasing an additional 15,771 shares in the last quarter. Bank of Montreal Can increased its holdings in W. P. Carey by 8.5% in the 2nd quarter. Bank of Montreal Can now owns 33,811 shares of the real estate investment trust’s stock valued at $1,871,000 after acquiring an additional 2,659 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in W. P. Carey by 71.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 9,087 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 3,778 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of W. P. Carey by 4.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 21,960 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 924 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of W. P. Carey by 69.5% during the second quarter. EverSource Wealth Advisors LLC now owns 22,819 shares of the real estate investment trust’s stock valued at $1,319,000 after purchasing an additional 9,353 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Insider Activity

In other W. P. Carey news, Director Mark A. Alexander bought 3,500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were purchased at an average price of $55.87 per share, with a total value of $195,545.00. Following the completion of the purchase, the director now owns 38,124 shares in the company, valued at approximately $2,129,987.88. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on WPC. JPMorgan Chase & Co. dropped their price target on W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. UBS Group upped their price target on shares of W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada dropped their price objective on shares of W. P. Carey from $63.00 to $62.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. Finally, Scotiabank decreased their target price on shares of W. P. Carey from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $61.13.

W. P. Carey Trading Down 0.2 %

Shares of WPC stock opened at $62.74 on Friday. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $67.40. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.93 and a quick ratio of 1.93. The stock’s 50 day simple moving average is $59.92 and its two-hundred day simple moving average is $57.60. The company has a market cap of $13.73 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 1.18 and a beta of 0.94.

W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.47). The company had revenue of $389.70 million for the quarter, compared to analysts’ expectations of $381.39 million. W. P. Carey had a net margin of 34.83% and a return on equity of 6.50%. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same quarter last year, the company earned $1.36 earnings per share. Research analysts predict that W. P. Carey Inc. will post 4.52 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.875 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Monday, September 30th. This represents a $3.50 dividend on an annualized basis and a dividend yield of 5.58%. W. P. Carey’s dividend payout ratio is currently 133.08%.

W. P. Carey Profile

W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.